FOR IMMEDIATE RELEASE
ICBA Urges FDIC to Avoid Premium Volatility
Will Ensure Regular, Steady Premiums in Years Ahead
Washington, D.C. (September 24, 2010)-The Independent Community Bankers of America (ICBA) today represented the nation's community banks at a Federal Deposit Insurance Corporation (FDIC) roundtable that focused on the agency's new deposit-insurance assessment authority under the Wall Street Reform Act. Jack Hartings, president and CEO of The Peoples Bank, Coldwater, Ohio and ICBA treasurer; William Loving, president and CEO, Pendleton Community Bank, Franklin, WVa.; and Karen Thomas, ICBA senior executive vice president for government relations and public policy, attended the meeting and discussed goals for managing the Deposit Insurance Fund (DIF) under the FDIC's new authority.
"Our nation's nearly 8,000 community banks are pivotal to economic recovery efforts as they continue to support the financial needs of their local communities," said Thomas. "At today's FDIC roundtable, ICBA urged the FDIC to strive to manage the Deposit Insurance Fund in a way that allows the agency to charge a regular, steady premium in the years ahead. This would avoid future special assessments on community banks, which never participated in the risky practices that led to the economic crisis."
Today's roundtable was the second in a series that the FDIC plans to hold in order to solicit industry opinion concerning its new authority under the Wall Street Reform Act.
For more information about ICBA, visit http://www.icba.org/.